Home Crypto Genesis Digital Assets Purchases 20,000 Bitcoin Mining Machines from China’s Manufacturer Canaan

Genesis Digital Assets Purchases 20,000 Bitcoin Mining Machines from China’s Manufacturer Canaan

US-based Bitcoin mining agency Genesis Digital Assets just lately introduced that it has purchased a further 20,000 Bitcoin mining machines from China’s greatest mining rig producer, Canaan Creative Inc.

Both corporations announced the newest deal on Tuesday, August 31, however didn’t disclose the acquisition order worth. The buy could be the biggest recognized quantity of Bitcoin miners purchased in a single order ever.

The deal says that Genesis has an choice to buy a further 180,000 mining machines from Canaan.

Abdumalik Mirakhmedov, Co-Founder and Executive Chairman of Genesis Digital Assets, talked in regards to the improvement and acknowledged that the order for such machines will assist the corporate to increase additional its Bitcoin mining operations in North America and the Nordics, the place the crypto mining agency is concentrated on scaling up such areas utilizing renewable power sources.

“These new machines will dramatically enhance our capability as we work in the direction of our purpose to extend our capability to 1.4 gigawatts by the tip of 2023,” 

As of July, Genesis acknowledged that its mining capability was over 143 megawatts or a complete hash fee of two.6 exahasches (EH/s) of computing energy, which is greater than 2.6% of the worldwide Bitcoin mining hash fee.

Meanwhile, Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, additionally commented in regards to the improvement and mentioned: “Since we entered the long-term partnership with Genesis Digital Assets earlier this yr, each events have reached a number of nice offers.”

In June, Genesis purchased a further 10,000 mining machines from producer Canaan to assist the Bitcoin mining agency enhance its hash fee.

In July, Genesis raised $125 million in fairness to assist fund its enlargement plans within the North American and Nordic areas. The bitcoin mining firm deliberate to make use of the funding to purchase tools and construct new information centres within the US and the Nordic area.

Image supply: Shutterstock

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